Tuesday, May 5, 2015

May 5 - Cinco de Mayo weakness

Happy Cinco de Mayo! So far it has been a good one as I had re-entered QQQ/ SPY short seeing the end of the day weakness yesterday. Too early to say whether this will be a dip that will be bought up later today /in the coming few days or follow through so I have around 106.5 in QQQ at the lower BB as a partial covering zone ~50% as we may easily bounce once again. If we break through, great, but I will look to lock in some profits as the current trend is nonexistent, just lots of whipsawing.

This uptrending wedge/ channel is getting tighter and perhaps we will see a larger move down like we saw in March/ early April. But it is easily possible this dip is only for a few days and is quickly bought back up.

Followers

Subscribe To Greenlander Report

Disclaimer

The information and analysis on this site is provided for informational purposes only. Nothing herein should be interpreted as personalized investment advice. Under no circumstances does this information represent a recommendation to buy, sell or hold any security. None of the information on this site is guaranteed to be correct, and anything written here should be subject to independent verification. You, and you alone, are solely responsible for any investment decisions you make.